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"The roll out of Digital Account Open and the deeper integration with Orion is the latest example of our ongoing efforts to digitize the Schwab custody platform so that it is a secure, efficient, and simple user experience for advisors and their clients."

MIAMI BEACH, Fla.--(BUSINESS WIRE)--Today at the Orion
Ascent conference, Schwab Advisor Services previewed its Digital
Account Open tool, which will be in pilot for independent advisors later
this year. In tandem with the Digital Account Open rollout, Schwab is
expanding its integration with Orion Advisor Services, a key portfolio
management and reporting provider available through Schwab OpenView
Gateway®.

“Technology is the most powerful lever firms have to build scale and
enhance service,” said Andrew Salesky, senior vice president and head of
digital advisor solutions, Charles Schwab. “The roll out of Digital
Account Open and the deeper integration with Orion is the latest example
of our ongoing efforts to digitize the Schwab custody platform so that
it is a secure, efficient, and simple user experience for advisors and
their clients.”

Schwab’s Digital Account Open tool was previewed today during the Ascent/FUSE
2018’s “Tech’s Got Talent” marathon coding competition, in which
Schwab is one of ten participants. The tool – already incorporated in
the Schwab Institutional Intelligent Portfolios™ platform – replaces
paper forms with digital experiences for account opening and ancillary
transactions, which creates efficiencies for advisors and their end
clients. The expanded integration with Orion will give advisors the
ability to open new accounts in minutes by seamlessly importing client
information from Orion into Schwab Advisor Center. Meanwhile, clients
will be able to review, edit, and approve account applications submitted
by their advisors quickly and easily, which will make their accounts
ready for funding sometimes in just seconds.

As the independent advisor industry and investor needs evolve, more
firms understand that integration and digitization are important for
serving clients. According to a recent survey of approximately 2,000
attendees at Schwab Advisor Services’ annual
SOLUTIONS® events, nearly two-thirds (63%) of advisors
say integrated technology solutions are very important and that any
solution their firm chooses must integrate with other core solutions.
Additionally, more than three-quarters (76%) of advisors report an
increase in efficiency after implementing standardized workflows in
business activities.

“We have heard from our advisor clients that they want to combine the
best of Schwab with their chosen third-party solution to meet their
changing and individual business needs,” said Salesky. “As we continue
to listen and respond to advisors, we look forward to expanding
third-party integrations by going both broad and deep with the
industry’s premier technology providers.”

At Charles Schwab we believe in the power of investing to help
individuals create a better tomorrow. We have a history of challenging
the status quo in our industry, innovating in ways that benefit
investors and the advisors and employers who serve them, and championing
our clients’ goals with passion and integrity.

Schwab Advisor Services™ serves independent investment advisors and
includes the custody, trading, and support services of Schwab.
Independent investment advisors are not owned by, affiliated with, or
supervised by Schwab.